Dubai is growing faster than the speed of light, with tower blocks popping out of the ground by the dozen and property buyers rushing to jump on the bandwagon—even before the city has been properly built.

According to recent reports, some 75,000 new units are underway, the most exclusive of them being the three man-made palm islands, and the ultra-exclusive project The World, which encompasses 250 islands that form the shape of all the countries on the planet.

Those who invested in an off-plan property three years ago will find that their nest egg has risen in value by a healthy 60%, even before the building has reached completion.

But that was then and this is now and there’s a big questionmark over whether today’s market still garners such returns. Most experts predict that prices will continue to rise, although a slow-down is expected at some point.

The property boom is thanks to the 100,000 people predicted to arrive in the country each year, all requiring a place to live. The influx of immigrants thus entails rent increases, which leaves all yields at a handsome 8-9%. But whether the investor can still buy off-plan, sit back and relax while the profits roll in is no longer certain. Experts predict the mood will change.

As the market slow-down creeps in, factors such as quality and location will shift to the forefront. Which is best, a £1 million investment in one of the palm properties or a middle-market investment in the Springs and Meadows so popular with the expats? The smart money lies between the two.

Needless to say, as an investor you may not be able to ensure that your property is entirely freehold—a law clarifying this has yet to be passed by the UAE authorities—so you have to rely on the good nature of your developer.

This is not a viable option for the nervous consumer, and that’s where the crux of the problem may lie in Dubai’s property boom.

But despite concerns over authorities undermining property rights, indications still point towards boom rather than bust. Experts believe that too much money has been invested in the country for things to go wrong. They maintain that, whatever could go wrong, the ever-progressive infrastructure and development is sophisticated enough to deal with it effectively.

Suffice to say, among expats Dubai is now considered to be the new Hong Kong—a classic post-colonial place in which to work hard, play hard and put down your roots.